Wipro has entered into a strategic alliance with Alberta-based ATCO Ltd, one of Canada’s premier corporations.
As part of this alliance, Wipro will provide total outsourcing solutions to ATCO in Canada and Australia.
Wipro and ATCO have signed a series of master services agreements under which Wipro will provide the complete suite of IT services to ATCO. The arrangement is projected to result in revenues of over CAD 120 million ($112 million) to Wipro annually, for the next ten years, up to December 2024.
“This alliance ensures ATCO can focus on growing our core businesses of structures and logistics, utilities, and energy while partnering with Wipro for strategic, innovative IT solutions required to support our global operations. Wipro’s deep domain capability and technology-leadership will also ensure we continue to deliver cost-effective services to our customers,” said Brian Bale, Senior Vice President & Chief Financial Officer, ATCO.
Anand Padmanabhan, Chief Executive – Energy, Natural Resources and Utilities, Wipro said, “Our focus will be to enable ATCO to enhance their competitiveness by deployment of strategic solutions and efficient delivery of IT services.”
Wipro’s IT services delivery model will be further strengthened in North America and Australia by ATCO I-Tek, a subsidiary of ATCO with a presence in both these geographies, which will now become a part of Wipro for an all-cash consideration of CAD 210 million ($ 195 million). ATCO I-Tek has been providing IT Services to ATCO for the past 15 years.